Are expenses included in Cost of Acquisition of Property?

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  1. Query

    Query New Member

    While calculating short term capital gains tax

    A. What all items are included in cost of purchase?
    1. Agreement value?
    2. Registration fee?
    3. Stamp duty?
    4. VAT?
    5. Service Tax?
    6. Interest paid on Home Loan till date of sale of property??
    6. Anything else that i can add???

    B. While calculating cost of improvement, Can I include cost of furniture inside the flat?

    C. While calculating cost of transfer, Can I include StampDuty, Registration paid by the buyer that would be paid during the re-sale?
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    A. All the points mentioned by you are considered in the cost of purchase. However, Pt 6 can be claimed only if pre-construction interest has not been claimed as a deduction under Section 24.

    B. Immovable Furniture like Almirahs, Cabinets can be considered in the cost of improvement.

    C. This cost can be included only if it has been incurred by you.
  3. Query

    Query New Member

    Thanks a lot Gaurav for this important information.
  4. icarus2712

    icarus2712 New Member

    hi gaurav can clubhouse charges,maintainence(charged in advance for 2 years) , development chatges be included in cost of new house
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